Leading Pharma cold chain logistics service provider — Kool-ex — has partnered with IndoSpace to build customized, GDP/GWP compliant, temperature controlled, pharma distribution centres across the country.
IndoSpace is backed by the Everstone Group (a private equity firm focused on real estate in India and South East Asia), GLP (leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies) and RealTerm (a $6+ bn AUM real estate operator). IndoSpace is the largest investor, developer and manager of industrial real estate and warehousing in India.
Kool-ex said it has the largest reefer fleet of 350 vehicles and is on its way to become a full stack, end-to-end supply chain solutions provider to the pharma industry. As part of this unique asset-light deal, Kool-ex and IndoSpace will jointly design and set up three warehouses in the first phase by 2021 in proximity to Mumbai, Delhi and Bangalore. At 42,000 pallet positions in each warehouse, each of these warehouses will be the largest standalone Cold Chain Facility in the country. Kool-ex has plans to set-up 10-11 warehouses by 2023 making it the largest Pharma storage footprint in the country.
Kool-ex also said it is in advanced talks with investors to raise growth capital for these initiatives and has appointed KPMG in India for financial advisors to the process, the company said in the statement.
Rahul Agarwal, Director, Kool-ex Warehousing Limited said, “We aspire to become the largest dedicated player in the Pharma warehousing space offering over 10-11 GDP/GWP compliant, multi-client, pharma distribution centres over the next three years.”
Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group said, “We are delighted to partner with Kool-Ex as they venture into temperature-controlled warehousing. The amalgamation of IndoSpace’s warehousing expertise along with Kool-Ex’s cold chain logistics ecosystem will help in building the state- of- the-art infrastructure to support the growing needs of cold chain pharma warehousing and distribution in India.”
Kool-ex said it will also be gearing up to offer complete Pharma passive packaging solutions – in partnership with TESSOL, a leading cold chain solutions provider – to design and supply Passive Cooling Boxes for intercity and Intra city movement of sensitive time bound, temp controlled medicines such as vaccines, insulins etc. These boxes will have a different insulation technology based on phase change material instead of the currently used EPS (THERMOCOL). These boxes will need much lower charging (cooling) time of 8 hours, against the current 48-72 hours, and will enable multiple use, coupled with features such as live track & trace.
Rajat Gupta, CEO, TESSOL said, “TESSOL and Kool-ex have picked the gauntlet, and together have engineered product solutions for pharmaceutical distribution that are world beating, setting new global benchmarks. We are offering an “atmanirbhar” solution that guarantees temperature compliance and traceability of Pharma products till the last point of delivery, hence ensuring the efficacy of the medicine.”
In India, there is a significant menace of counterfeit medicines, and to enable pharma companies to control this, Kool-ex is in advanced talks with one of India’s largest IT majors to jointly design and develop Blockchain for pharma, enabling access to bar coded medicine packs which can be then tracked and traced in real time across the distribution chain till it reaches the patients hand.